Tether trading volume reached over several billions of U.S. dollars every single day, but was especially high in late May 2021 and early September 2021. The trade spike on May 19, 2021, could be attributed to news that day that China was to ban crypto services - which led to significant declines in market cap across the entire crypto market. The trading peak on September 7, however, does not have as clear of a potential cause. One day before, the Canadian region of Ontario banned crypto platforms from using Tether altogether. Additionally, the price of Tether was briefly below one U.S. dollar - which may have caused people to buy the stablecoin.
Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024
(in billion U.S. dollars)
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Statista, & CoinGecko. (September 25, 2024). Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1272865/tether-trade-volume/
Statista, und CoinGecko. "Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024 (in billion U.S. dollars)." Chart. September 25, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1272865/tether-trade-volume/
Statista, CoinGecko. (2024). Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1272865/tether-trade-volume/
Statista, and CoinGecko. "Tether (Usdt) 24 Hour Trade Volume from July 1, 2020, to September 25, 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Sep 2024, https://www.statista.com/statistics/1272865/tether-trade-volume/
Statista & CoinGecko, Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1272865/tether-trade-volume/ (last visited November 21, 2024)
Tether (USDT) 24 hour trade volume from July 1, 2020, to September 25, 2024 (in billion U.S. dollars) [Graph], Statista, & CoinGecko, September 25, 2024. [Online]. Available: https://www.statista.com/statistics/1272865/tether-trade-volume/
